Asia ferrous scrap prices are still falling this because because of weak demand from steel mills and ample supply from various origins.
There were further price falls in the key import markets of Taiwan and Vietnam falls across most grades of heavy melting scrap, with containerized prices for Vietnam matching that of Taiwan.Vietnamese containerized ferrous scrap prices typically fetch a premium of $5-10 per tonne over Taiwanese prices due to freight differentials. But the deals done this week into both countries were reportedly at equal levels. Market participants expect further downside prices although the magnitude thereof is unclear, they told Fastmarkets MB on Friday November 16.VietnamFastmarkets MB's import price assessment for heavy melting scrap (HMS) 1&2 (80:20) sold into Vietnam was $348-356 per tonne cfr for the week to Friday, down $2 per tonne from the previous week.Offers for HMS 1&2 (80:20) deep-sea bulk cargoes were at $356 per tonne cfr...